Mr. Speaker, a comprehensive economic and trade agreement, CETA, with the EU is a key part of our pro-trade plan that is committed to deepening and broadening our trading relationships. This is critical as trade accounts for over 60% of our annual GDP, and one in five Canadian jobs is directly or indirectly dependent on trade.
The benefits of a Canada-EU comprehensive economic and trade agreement, CETA, are expected to be enormous. According to the EU-Canada joint study, a free trade agreement with the EU is expected to boost Canada’s economy by $12 billion and increase two-way trade by 20%. This is the equivalent of creating almost 80,000 new jobs for hard-working Canadians, or increasing the average Canadian family’s income by almost $1,000. It would also give preferential market access for Canadian workers and businesses to the world’s largest single common market, foreign investor and trader.
A CETA with the EU would deliver commercial benefits across many goods sectors, including aerospace, chemicals, plastics, wood products, aluminum, fish and seafood, light vehicles and automotive parts, and agriculture products such as wheat, beef and pork.
Canada is seeking an outcome in the Canada-EU CETA negotiations that includes the elimination of all tariffs on Canadian fish and seafood. Duty-free access to the EU, the world’s largest importer of fish and seafood products, would offer significant opportunities for Newfoundland and Labrador’s fish and seafood industry.
Provinces and territories are unanimous in their support of a CETA with the EU as demonstrated in a February 28, 2012 joint federal-provincial-territorial statement. All Canadian provinces and territories, including Newfoundland and Labrador, are closely involved in the CETA negotiations. This involvement includes frequent meetings with the federal government on planning and strategy, as well as attending negotiating sessions with the EU in areas that fall in whole or in part under provincial and territorial jurisdiction. Provincial and territorial officials involved in the CETA negotiations form part of the Canadian delegation. The Government of Newfoundland and Labrador has several representatives engaged in the negotiations. This includes not only the representatives who attend negotiating sessions with the EU, but also other government officials in various Newfoundland and Labrador government departments who are consulted on different aspects of the negotiations.